Tax Strategies for S Corporations in Financial Distress
Mastering Complex S Corp Regulations to Protect Your Tax Position
Recording of a 100-minute CPE webinar with Q&A
This seminar will explore the details of federal tax regulations relevant to S corps either under financial distress or booking losses. The panel will offer practical solutions for adjusting tax compliance and planning to weather the current economic crisis.
- Cancellation of debt income issues for S Corps
- Types of transactions that create COD income
- Types of transactions that are excluded under COD income
- Possible reduction in NOLs, other credits
- Restructuring and reorganization strategies for distressed S Corps
- Sect. 368 reorganizations
- E reorganizations
- G reorganizations
- Converting S Corps in parent Q-sub groups
- Troubled debt restructuring tax implications
- Sect. 368 reorganizations
- Tax impact of stock and ownership changes
- Types of transactions that can inadvertently trigger change of ownership, termination of subchapter S election
- Impact of various stock transactions
- Recent changes to laws and regs governing S Corps
- American Recovery and Reinvestment Act of 2009 provisions reducing recognition period for built-in gains on S Corps
- T.D. 9422 on shareholder rules, PCBs, ESTBs
- REG-102822-08 proposed COD income changes
The panel will help you navigate complex tax rules for S corporations by:
- Analyzing IRC Sect. 108 rules for S corps that recognize cancellation of debt income.
- Evaluating the various restructuring options under Sect. 368.
- Detailing the tax impacts of stock acquisitions, distributions and ownership changes.
- Breaking down recent regulatory changes for S corp taxation, including provisions from the 2009 stimulus bill.
Deloitte & Touche
She specializes in transactional and compliance issues regarding S corporations, trusts and estates. She has more than... | Read More
She specializes in transactional and compliance issues regarding S corporations, trusts and estates. She has more than 18 years of experience in accounting and formerly worked for the IRS Chief Counsel Office of Pass-Throughs and Special Industries.Close
Senior Manager, National Tax Pass-Throughs Group
She joined KPMG in 2006 after eight years with the IRS, working with pass-throughs and special industries as a senior... | Read More
She joined KPMG in 2006 after eight years with the IRS, working with pass-throughs and special industries as a senior reviewer and assistant branch chief. She belongs to the American Bar Association Taxation Section's S Corporation Committee.Close
C. Wells Hall, III
He specializes in advising clients on the tax implications of acquisitions, reorganizations, restructuring of business... | Read More
He specializes in advising clients on the tax implications of acquisitions, reorganizations, restructuring of business entities, and other transactions. He focuses on using pass-through entities such as S Corps, LLCs and partnerships. He has represented clients before the IRS and the North Carolina Revenue Department.Close
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On-Demand Seminar Audio